Lord Turner, FSA Chairman, has discussed the key drivers of declining trust in the banking system and suggested implications for prudential policy, industry structure, conduct supervision and culture. He looked at how the financial services sector is different from other customer service sectors and assessed recent scandals which have caused loss of consumer confidence. He looked at how regulation should address the failings and gave examples of how bank leadership should shift tone towards values more appropriate for institutions of great public interest. On the other hand, he said society at large must recognise the many good things that banks already do. (Source: Banking at the Cross-roads: Where Do We Go from Here?)